Event risk before this expiration:FOMC decision Wed, Oct 28 · Jobs report Fri, Nov 6 · CPI release Tue, Nov 10 · Jobs report Fri, Dec 4 · FOMC decision Wed, Dec 9 · CPI release Thu, Dec 10 — macro releases historically overwhelm pinning effects; max pain reads weakest in event weeks.
■ put-side pain■ call-side painTotal payout option writers would owe at each settle price (both sides, all open interest, ×100 shares) — low settles hurt put writers, high settles hurt call writers. The minimum — 125 — is the max pain price.
Open interest by strike · Fri, Feb 19
■ calls (up)■ puts (down)NICE open contracts per strike for Fri, Feb 19.
Open-interest change — building vs unwinding
Needs two observed snapshot days for this expiration — the comparison appears automatically once the next weekday snapshot lands. We diff real observations only; nothing is estimated.
Volume by strike · Fri, Feb 19
■ calls (up)■ puts (down)Today's traded contracts per strike (delayed).
Implied volatility by strike · Fri, Feb 19
— call IV— put IVATM ≈ 49.3% · Quoted strikes only; illiquid wings with junk fits are dropped, not smoothed.
Gamma exposure by strike · Fri, Feb 19
Net dealer gamma per strike, in dollars per 1% move, assuming the standard convention (dealers long calls, short puts) — an assumption, not an observation. Above the amber flip level hedging tends to dampen moves; below it, to amplify them.
Greeks by strike · Fri, Feb 19
Call Δ
Call Θ
Strike
Γ
Vega
Put Θ
Put Δ
0.93
-0.01
75
0.0040
0.10
-0.02
-0.08
0.90
-0.02
80
0.0052
0.12
-0.02
-0.10
0.86
-0.02
85
0.0065
0.15
-0.03
-0.14
0.82
-0.03
90
0.0078
0.17
-0.03
-0.18
0.77
-0.03
95
0.0092
0.20
-0.04
-0.23
0.72
-0.04
100
0.0104
0.22
-0.04
-0.29
0.66
-0.04
105
0.0114
0.24
-0.05
-0.35
0.60
-0.04
110
0.0120
0.26
-0.05
-0.41
0.54
-0.05
115
0.0124
0.26
-0.05
-0.47
0.48
-0.05
120
0.0125
0.26
-0.05
-0.54
0.42
-0.05
125
0.0123
0.26
-0.05
-0.59
0.37
-0.05
130
0.0118
0.25
-0.04
-0.65
0.33
-0.04
135
0.0112
0.24
-0.04
-0.70
0.28
-0.04
140
0.0105
0.22
-0.04
-0.75
0.24
-0.04
145
0.0097
0.21
-0.04
-0.79
Quoted contract greeks from the delayed feed (not modeled here); the highlighted row is nearest to spot. Showing 15 strikes around the money — all 22 are in the CSV. Δ per $1 of underlying · Θ per day · vega per IV point.
Stacked — layer the expirations
Call open interest per strike, stacked across the checked expirations — each color is one expiry. Strikes are pruned to the liquid center of each chain.
Max pain is arithmetic, not prophecy: the settle price that would minimize what option writers pay out at expiration, computed from open interest alone. Prices sometimes gravitate toward heavy strikes into expiry — dealer hedging is a real flow — but the evidence that max pain predicts settlement better than chance is mixed, and we are not going to pretend otherwise. Use it as a map of where positioning is stacked, next to the fundamentals and the earnings calendar, not as a target.
Data: Cboe delayed public feed (~15 minutes), refreshed here about every 15 minutes. Open interest itself updates once daily, before the open. Educational information, not investment advice.